Swisher Hygiene's Choice Environmental Subsidiary to Acquire Lawson Sanitation
Swisher Hygiene Also Acquires Chicagoland Hygiene, Inc. Franchisee
CHARLOTTE, N.C., March 30, 2011 (GLOBE NEWSWIRE) -- Swisher Hygiene Inc. ("Swisher Hygiene") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitation products and services, today announced that its Choice Environmental Services ("Choice Environmental") subsidiary has entered into an agreement to acquire Lawson Sanitation, LLC ("Lawson"), a Miami-based solid waste services provider.
Lawson has been in business since 2003 and serves commercial and multi-family commercial customers in South Florida by offering a complete range of solid waste and recycling collection, transportation, processing and disposal services. Lawson has been led by founder John Lawson, Jr., who brings his 22 years of experience in the South Florida waste industry to the Choice Environmental team.
"When Choice first approached me, the company was not for sale," said Mr. Lawson. "That said, I looked at my options, the timing in the marketplace and the opportunity at hand — including the ability to be part of a dynamic group with the growth plans and prospects it presented — and I decided to join the team."
"We are excited to make our first acquisition since joining the Swisher Hygiene family, and we think Lawson is a perfect fit which enhances Choice Environmental's position in the South Florida market," said Glen Miller, Chief Executive Officer of Choice Environmental. "The acquisition highlights that Swisher Hygiene fully intends to grow its synergistic lines of business — its hygiene business and waste services division — in concert. We are very happy to bring John into the fold, as his vast experience in the industry will provide Choice Environmental with significant expertise as we grow the business."
In addition to the Choice Environmental acquisition of Lawson, Swisher Hygiene also announced that it acquired the hygiene and chemical business of Chicagoland Hygiene, Inc. ("Chicagoland"), one of its northern Illinois franchisees. Chicagoland has been a Swisher Hygiene franchisee since 1993, encompassing much of Chicago's western suburbs.
"Today's announcement demonstrates our commitment to expand our platform of hygiene and sanitation services," said Steven R. Berrard, CEO of Swisher Hygiene. "John Lawson, Jr. is well regarded in the sanitation industry and we look forward to leveraging his drive and enthusiasm. Additionally, we are excited to bring our Chicago franchisee fully on board to further enhance our company-owned operations and take the Midwest market to the next level. I'd like to thank the Chicagoland team and the Riley family for their loyalty to Swisher Hygiene over the last 18 years and congratulate Robert and Betty on their retirement."
Total consideration paid by Swisher Hygiene in connection with the acquisitions includes up to $5,500,005 in cash, the assumption of certain liabilities and the issuance of up to 993,067 shares of common stock of Swisher Hygiene, subject to certain restrictions and conditions, including acceptance by the Toronto Stock Exchange.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this news release, including any information as to the future financial or operating performance of Swisher Hygiene, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this news release unless otherwise stated. Forward-looking statements include, but are not limited to, possible events and statements with respect to possible events. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that
certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Swisher Hygiene as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Swisher Hygiene contained in this news release, which may prove to be incorrect, include but are not limited to, the various assumptions set forth herein as well as the accuracy of management's assessment of the effects of the successful completion and integration of the acquisitions. All of these assumptions have been derived from information currently available to Swisher Hygiene including information obtained by
Swisher Hygiene from third-party sources. These assumptions may prove to be incorrect in whole or in part. All of the forward-looking statements made in this news release are qualified by the above cautionary statements and those made in the "Risk Factors" section of Swisher Hygiene's registration statement on Form 10 filed with the Securities and Exchange Commission, available on www.sec.gov, and with Canadian securities regulators available on Swisher Hygiene's SEDAR profile at www.sedar.com, and Swisher Hygiene's other filings with the Securities and Exchange Commission and with Canadian securities regulators available on Swisher Hygiene's SEDAR profile at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Swisher Hygiene.
The forward-looking information set forth in this news release is subject to various assumptions, risks, uncertainties and other factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in the forward-looking information.
Swisher Hygiene disclaims any intention or obligation to update or revise any forward-looking statements, except to the extent required by applicable law.
About Swisher Hygiene Inc.
Swisher Hygiene Inc. is a NASDAQ and TSX listed company that provides essential hygiene and sanitation solutions to customers throughout much of North America and internationally through its global network of 77 company-owned operations, 6 franchises and 10 master licensees operating in countries across Europe and Asia. These essential solutions include cleaning and sanitizing chemicals, foodservice and laundry products, restroom hygiene programs and a full range of related products and services. The company's most recent program enhancement is its introduction of solid waste management services to commercial and residential customers in selected markets. Together, this broad set of offerings is designed to promote superior
cleanliness and sanitation in all commercial environments from door to dumpster, enhancing the safety, satisfaction and well-being of employees and patrons. Swisher Hygiene's customers include a wide range of commercial enterprises, with a particular emphasis on the foodservice, hospitality, retail, industrial and healthcare industries.
CONTACT: Swisher Hygiene Inc.
Phone: (704) 602-7116
Don Duffy, ICR
Phone: (203) 682-8215
Alecia Pulman, ICR
Phone: (203) 682-8332
Source: Swisher International, Inc.
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